Second Serving: MidCap Financial Services Capital Management is marketing its second mid-market CLO of the year in the $1.05 billion Woodmont 2017-2 Trust. The deal boosts MidCap’s total CLO assets under management to $1.7 billion. MidCap is managed by Apollo Capital Management. S&P Global Ratings has assigned ratings.
Refinancing: S&P also issued a pre-sale report Thursday for refinancing of 3i Debt Management’s Jamestown CLO III, a 2013-vintage CLO. The new terms include a reduction in the AAA coupon to Libor plus 114 basis points, down from the original spread of 145 for the $287.7 million Class A-1A replacement notes. 3i also obtained a lower fixed rate on the AAA-rated $20 million Class A-1B tranche.